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201206682 12. Borrower Not Released; Forbeawance 8y Lender Not a Waiver. Extension of the time for payment or modifioafion of amortization of the sums secured by this Secisity Instrument granted by I,ender to Bottower or auy Successor ia lnterest of Borrower shall not operate to release the liability of Borrower or any Suecessors in Iqterest of Borrowa. Lendex shall not be required ta comxnence proceedings ao inct any Successor in uit�est of Borrower or To refuse to exteud rima for payment oz othercvise modify amortization of the swns sc�;ured by this Securiry Instruinent bv reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbeazwce by Lender in exercising any right or remedy including, without limitation, Lender's acecptance of payments from third persons, entities or Successors in fnterest of Bosowe=or in unounts less than the amount then due, sha11 not be a waiver of or preclude the exercise of any right or remedy. 73. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Bonoarer covenants and agcees that Borrower's oblibations and liability shall Ue joint and several. However, any Borrower who co-signs this Security InsCrmnent bnt does not execute the IQote(a"co-signer"): (a) is co-sign'no this Security Instrument oaly to mortg�age, grant and convey the co-signer's interest in the Pmperry under the tenns of this Security Instnuneat (b) is not personally obligated to pay tha sums secured�y this Seeuri� Instruuien� and(e)agrees fliat Lender and any othex Borrower can agree to extend, modify, £arbear or make any accommodatioas with regazd to the tenns of this Security Insirument or the Note without the co-signer s consent Subject to the provisioivs of Section 18, any Succ;essor in Hrterest of Bosower who asswncs Borrower's obligations under this Security Instrument in writing, and is a�proved by Lender, shall obt�vn all of Sorrower's rights and benefits undea ttus Security bzsirument. Borrower shall not be released from Borrower's obligations and liaUility under this Security Instniment unless Lender agrees to such releasc in writing_ The covenants and agreements of this Sec;urity Instrument shall bind(eYcept as�ro��ded in Section ?0) and be.aefit the suceessors and assigns o£Lendet. 14. Loan Charges. Leilder maq charge Borrower fees for seivices perfonned iu connection with Borsowex's default, for the purpose of protecting Lender's interest In the Propecfy and rights under ti�is Securify Instnm�ent, including, but not 1'vnited to, attomeys` fees, properry inspection and valuafion fees. Uj regard fo any other fees, fhe absence of express authority in this Security I3istrument to chazge a specifie fee to Borrowex shall not be consfrued as a prohiUition on the charging of such fee. Lender may not charge fees flia.t are expressly prohiblted by fhis Security Instrumcnt or by Applieable Law. lf the Loan is subject to a law which sets m�iinum loan charges, and khat law is finally inteapreted so that the mterest or othes loan charges collected or to be collzcted in c6nneption with the Loan exqeed the perm3tTed limits, then: (a) any such loan chargz shall be reduced by the amount necesaary to reduce the cl�arge to the pernutted limit; and(b)any sums already collccted from Borrower which exceeded pannittec� ?unitc will be refunded to Borrower. Lcnder may choose to make this refund by reducing the priucipai.owed under the Note or by making a direct payinent to Borrower. If a refund reduc�.s principal, the reduckian will be treated as a partial prepayment without any piepayxnent charge(whefher or not a pxepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct paymexit to Borrower will ebnstitute a waiver of any right of acfiPn Borrower might have arising out of sueh oveacharge. 15. Notices. All notices given by Borrov��er or Lender in connection with tUis Security Inshument must be in wriCing. Any notice to Bosower in connecti�n with this Security Instrument shall be decmed to have been given to Borrower when mailed by first class mail or when actually delivered to Bonower's notice address if sent by pther means_ Notice to any one Borrower shall eonstituYe notice to all Boirowcrs unless Applicable Law expressly requires otherwise. "lChe notice addcess shall be the Propeity Address unless Borrower has . NFPRFSKASin le Famil - ZqOo��SZ g yFannleMae�FretltlieMacUNfFOfUAINSTRUR1ENT Porm3a281lOi VM P G� VM P6ME](11 p5) bVoliers Kluwer Financial Sarvices pyse�� 5��